The following press release was sent to the Bloomington paper.
For Immediate Release
June 3, 2024
Comptroller Nishala Highlights Indiana's Fiscal Strength
Indiana releases financial report
STATE CAPITOL – Indiana State Comptroller Elise Niischala today released Indiana’s first-ever financial report, highlighting the state’s solid fiscal position as laid out in the 2023 Comprehensive Annual Financial Report (ACFR), the official audited record of the state’s finances.
“Indiana's ACFR provides tangible evidence of our state's strong fiscal position,” Comptroller Nishala said. “Sharing Indiana's low debt, low pension fund liabilities, healthy cash reserves, balanced budget and AAA credit rating reminds us how great it is to be an Indiana citizen.”
The Comptroller's Office prepares the ACFR annually and it is audited by the Indiana State Board of Accountancy. The ACFR provides a detailed analysis of all state expenditures, cash flow, debt management and other financial information.
“Indiana's financial report, based on ACFR's 300-page report, provides Indiana residents with a handy tool to better understand Indiana's economic health and how the state is managing taxpayer money.”
Highlights of the report include:
• General fund revenues of $21.9 billion, up from $20.9 billion in fiscal year 2022.
• Assets (cash, investments, capital assets, etc.) exceeded liabilities (payables, pension obligations, etc.) by $25.6 billion.
• Total reserves are $2.9 billion, or 13% of the current budget.
• Indiana's debt per capita is $366, the seventh lowest among U.S. states.
Indiana's financial report is a summary of the ACFR for 2023. The current ACFR and all past ACFRs are available electronically on the Comptroller's website. Indiana's ACFR has been awarded a Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association (GFOA) for the past 30 consecutive years.
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Elise M. Nieshalla is the Indiana State Comptroller and serves the constitutional duties of the Office of the State Comptroller. Comptroller Nieshalla is committed to serving state and local governments by upholding the highest standards of fiscal responsibility in accurately accounting and reporting state funds, distributing tax revenues to local governments, paying Indiana employees and vendors, administering the state's deferred compensation plans, and providing financial information through the Indiana Transparency Portal.
Follow Indiana State Comptroller Elise Niischala on Facebook or on Twitter @IndianaComp.
Media Contact: Emily Boesen
[email protected]
Link:
Indiana State Financial Report (pdf)
Indiana Transparency Portal (ITP)
Annual Comprehensive Financial Report (ACFR)
House Resolution 190
Senate Resolution 600
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